Up to 200 rentals to come to Lakeside

A local developer has purchased land in Lakeside for $4.25 million to build as many as 200 single-family homes and twin homes that will be rented out to tenants, said the company that represented the buyer and the seller in the sale.

The buyer, Dan Floit, plans to break ground in August 2013 and open March 2015 on the four residential lots, located along Interstate 8 Business Route, southwest of Los Coches Road. The seller of the four residential lots, named Settlers Point, is Odom Family LP. Tim Kerrigan, of commercial real estate services company CBRE, represented both sides of the deal, CBRE said.

The plan is to rename the project Jackson Ridge. The rental homes in the new project will offer two-car attached garages, backyards, washer and dryers and granite countertops.

Floit in 2010 snapped up a nearly 16-acre gated development in Spring Valley, where he developed 87 townhomes for a project called Jackson Pointe. That project, CBRE said, is similar to what he's trying to do in Lakeside.